Current Account Balance: Turkmenistan

Analysis# Turkmenistan Current Account Balance Turkmenistan's current account balance stands at 0.7% of GDP in 2026, reflecting a modest external position after decades of volatility. The metric has ranged dramatically from a peak of 17.8% in 2008 to a low of -35% in 1998, underscoring the country's exposure to commodity price cycles and external shocks. Since 1992, Turkmenistan has recovered from the severe deficits of the 1990s, though recent values remain far below the surpluses achieved during the 2000s energy boom. The period from 2017 to 2026 reveals a consistent moderating trend. After reaching 9.7% in 2022—driven by elevated natural gas prices—the current account balance has contracted steadily, declining to 0.7% by 2026. This deceleration suggests normalizing energy revenues and potentially weaker external demand. The trajectory implies Turkmenistan may approach near-balance in its external accounts, marking a shift from the commodity-dependent surpluses of previous decades.